This graphic is absolutely incredible (at least in my mind):
Before leaving the house today, I saw a snippet, and I mean a snippet, less than three minutes, of CNBC. Andrew Sorkin seemed surprised that the economy was doing so well. Confirmed exactly what Larry Kudlow said at the cabinet meeting yesterday: folks honestly did not believe this could happen. And some still don't believe it's has happened. That jobs could come back. The previous president told us that those jobs were never coming back. Wow. And when jobs come back, people have more discretionary income. And sales at Walmart go up.
By the way, not often talked about: all the money being left to baby boomers by the greatest generation. Folks who served in and lived through WWII are often credited with making America what it is today (see Tom Brokaw); they are now dying off in droves, but they are leaving their children, the baby boomers, a bit of a financial estate. I read somewhere that this is the first generation in US history -- the baby boomers -- that will inherit money from the previous generation -- or something to that effect. And it will continue to the next generation. The baby boomers (us) will be the second US generation to leave money to our heirs. From CNBC a year ago:
Intergenerational transfers of wealth create risks and opportunities for individual investors and the financial advisory industry.
Over the next 30 to 40 years, $30 trillion in financial and non-financial assets is expected to pass from the baby boomers — the wealthiest and one-time largest generation in U.S. history — to their heirs. Therefore, navigating this latest transition will be critical.But I digress. The Walmart graph from The WSJ:
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From The Mind of Maxine Waters
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